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BGF invests almost £50m into North West businesses in 12 months
The North West arm of the Business Growth Fund (BGF) is celebrating a record 12 months of investment.
The organisation, which makes long-term investments in SMEs in return for a minority stake, has ploughed almost £50m into the region’s businesses since November 2015.
The figure highlights BGF’s accelerated activity in the North West in 2016, as it accounts for more than half of the £97.1m total invested in the region since March 2012.
Some of the biggest BGF deals include a £3.3m investment into High Access Maintenance, allowing the firm to drive its UK-wide growth strategy and expand its Birmingham and London teams.
The organisation also sank £10m into multichannel furniture retailer Sofology, shortly before helping Leigh-based bathroom retailer Better Bathrooms create 100 jobs with £4m in follow-on funding.
Nationally, BGF today (November 15) announced that it has passed £1bn in committed investments to businesses, with over £700m of that outside London and the South East.
By the close of 2016, the firm is forecast to have awarded more than £370m this year compared with £250m in 2015.
B2B data company Beauhurst named BGF the top institutional investor in terms of deals completed during the three months that followed the EU Referendum, despite a wider slowdown in investment activity. Read more
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